BAKU, Azerbaijan, September 3. Azerbaijan and the Asian Development Bank (ADB) have held discussions on deepening their partnership across several sectors of the economy, Trend reports via the Ministry of Finance.
Finance Minister Sahil Babayev received a delegation led by Rachel Thompson, Executive Director representing Azerbaijan on the ADB Board of Directors.
At the meeting, both sides expressed satisfaction with existing cooperation, highlighting the bank’s role in supporting Azerbaijan’s socio-economic development through loans, grants, and technical assistance.
Talks focused on the ADB Country Partnership Strategy (CPS) for Azerbaijan covering 2025-2029, which aims to diversify the economy, strengthen resilience, and ensure inclusive growth. Babayev emphasized that Azerbaijan continues to demonstrate sustainable development and macroeconomic stability, noting successful diversification in agriculture, information and communication technologies, industrial production, logistics, and green energy.
He also pointed to ADB’s role in financing projects under the State Program for improving water supply, wastewater management, and stormwater drainage in Baku and the Absheron Peninsula for 2025-2034, as well as in the expansion of Baku Metro lines and the modernization of the national railway infrastructure.
In turn, Rachel Thompson praised the strong level of cooperation between Azerbaijan and ADB, expressing confidence that the partnership will be further strengthened in the coming years.
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